(SILVER SPRING, MD) September 23rd, 2019 - Mercaris, a market data and trading startup that is helping to grow the organic and non-GMO agriculture industry in the U.S., held its third quarterly online auction for certified organic cream on Wednesday September 4th, 2019. The auction closed at $4.45/lb butterfat FOB Midwest for a tanker of organic cream, or $4.35 per total solid pounds, helping to establish an essential reference price for the industry.
“We are extremely pleased to see that interest has continued to grow with each organic cream auction Mercaris has held this year,” said Kellee James, founder and CEO at Mercaris. “Through our auctions, the organic dairy industry can gather information and insights they’ve never had before; allowing them to take action in their procurement and supply chain management strategies.”
“Our most recent auction saw an active order stack with solid industry participation” said Lizzie Ekeberg, director of market operations for Mercaris. “Compared to the conventional dairy market, fat is in high demand for organic buyers. This auction was an effective example of price discovery for certified organic cream.”
By participating in, or observing, regular dairy auctions throughout the year, Mercaris subscribers gain exclusive access to the industry-first online market for organic, non-GMO, and identity-preserved commodities. The company’s online auctions are held in real-time, and reveal all bids and offers to online participants — helping define true price discovery for the market. Its network ranges from individual farmers to grain companies, dairy processors, and end-user food companies; offering today’s agricultural professionals access to new markets, new buyers, and new sellers; all while diversifying overall marketing efforts. There is no fee to participate in the Mercaris auctions platform.
Mercaris will hold another organic cream auction in Q4 2019. For results of the most recent organic cream auction, more information about Mercaris’s online auction platform, or to participate in the next auction, visit www.mercaris.com/auctions. To learn more about Mercaris research and market insights, visit www.mercaris.com.